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August 20, 2007 (Regular Meeting) Page 520 of a Home Investment Partnerships Program between Cabarrus County and the City of Concord for the FY 07-08 HOME program in the amount of $132,971.00. Further, the Board adopted the following associated project ordinance, adopted the following budget amendment and authorized the County Manager to execute the Agreement, subject to review and/or revision by the County Attorney. Ordinance No, 2007-09 GRANT PROJECT ORDINANCE 2007-2008 HOME PROGRAM BE IT ORDAINED by the CABARRUS COUNTY BOARD OF COUNTY COMMISSIONERS, that pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following project ordinance is hereby adopted: Section 1. The project authorized is the Community Development project described in the work statement contained in the grant agreement between this unit and the City of Concord. The project is more familiarly known as the 2007-2008 Cabarrus/Iredell/Rowan HOME Program. Section 2. The officers of this unit are hereby directed to proceed with the grant project within the terms of the grant document(s), the rules and regulations of City of Concord and the U.S. Department of HUD and the budget contained herein. Section 3. The following revenues are anticipated to be available to complete this project. $132, 471 ...........................HOME Program Grant $ 95,000 ...........................Local Match funds Section 4. The following amounts are appropriated for the project: 1. Housing Rehabilitation----------------$169,192 2. Administration--------------------------$6,279 Section 5. The Finance Officer is hereby directed to maintain within the Grant Project Fund sufficient detailed accounting records to provide the accounting to the grantor agency required by the grant agreement(s) and the federal and state regulations. Section 6. Requests for funds should be made to the grantor agency in an orderly and timely manner as funds are obligated and expenses incurred. Section 7. The Finance Officer is directed to report monthly in the financial reports thestatus of each project element in Section 4 and on the total revenues received or claimed. Section 8. The Budget Officer is directed to include a detailed analysis of past and future costs and revenues on this grant project in every budget submission made to this Board. Section 9. Copies of this grant ordinance shall be made available to the Budget Officer and the Finance Director for directions in carrying out this project. ADOPTED this 20th day of August, 2007. CABARRUS COUNTY BOARD OF COMMISSIONERS By: /s/ Robert W. Carruth Robert W. Carruth, Chairman Board of Commissioners Attest: /s/ KaV Honeycutt Kay Honeycutt, Clerk to the Board BUDGET REVISION/AMENDMENT REQUEST DEPARTMENT OF COMMERCE AMOUNT: $177,971.00 TYPE OF ADJUSTMENT: Supplemental Request